Stelmar Shipping Delivers Jademar

Tuesday, March 12, 2002
Stelmar Shipping Ltd., announced that it has taken delivery of the Jademar, a newly built 69,697 dwt Panamax tanker from the Daewoo Shipbuilding and Marine Engineering Company Ltd of South Korea. The Jademar has entered into a previously announced 24-month time charter with Adam Maritime Corporation. The Jademar is a sister ship of the Pearlmar, which was delivered in January and also entered into a previously announced twenty four month time charter with Adam Maritime Corporation. Peter R. Goodfellow, Chief Executive Officer and President commented, ``With the delivery of the Jademar, Stelmar has successfully received delivery of three tankers in a series of five newbuildings for 2002 and have deployed all the ships on time charters. We expect to complete the newbuilding program for 2002 in the second quarter and receive delivery of two more Panamax tankers.'' Goodfellow continued, ``Including the newbuildings, Stelmar now has twenty-two vessels on time charter. Stelmar has secured almost 67 percent of its 2002 net operating days on time charters, and 39 percent for 2003. In addition to providing the Company and shareholders with increased earnings visibility from the additional time charter coverage, the newbuilding program has reduced the average age of our fleet to approximately seven years.'' Including the two other Panamax tankers, which are all scheduled to be delivered during the second quarter of 2002, Stelmar has 27 ships with a total of 1,528,438 dwt cargo carrying capacity. The fleet, together with the newbuildings, includes nine double hull and eight double side Handymax product tankers, six double hull Panamax tankers, three double hull and one single hull Aframax tankers, with an average age of approximately seven years.

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


BIMCO Signs New LNG And Shipbuilding Supervision Contracts

The twice yearly meeting of BIMCO’s Documentary Committee took place in Hamburg on 19 November. In his first meeting as Chairperson of the Committee, Belgium’s

Damen Marine Components Opens Jiangyin Plant

Damen Marine Components (DMC) is proud to announce the opening of its brand new facility in Jiangyin, China.Those present at the opening ceremony included CEO

Henriksen Unveils Strongest SOLAS Boat Lifting Hook

H Henriksen of Norway has received SOLAS certification for a new off-load single-point boat lifting hook capable of holding up to 22.5-tonnes. The quick release

Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1528 sec (7 req/sec)